The portion of the estate that remains after debts and specific bequests is called what?

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Multiple Choice

The portion of the estate that remains after debts and specific bequests is called what?

Explanation:
The portion remaining after debts and specific bequests are paid is the residuary estate. This is the assets left over that aren’t specially given to named beneficiaries in the will, and it passes according to the will’s residuary clause (or, if there’s no clause, by applicable law). The other terms describe different concepts—gross estate is the total value at death, while net estate usually refers to what remains after debts, taxes, and expenses are paid—so they don’t capture the idea of the leftover balance after specific gifts have been satisfied.

The portion remaining after debts and specific bequests are paid is the residuary estate. This is the assets left over that aren’t specially given to named beneficiaries in the will, and it passes according to the will’s residuary clause (or, if there’s no clause, by applicable law). The other terms describe different concepts—gross estate is the total value at death, while net estate usually refers to what remains after debts, taxes, and expenses are paid—so they don’t capture the idea of the leftover balance after specific gifts have been satisfied.

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